Moves by Myer and David Jones to spring clean their stable of brands is a breath of fresh air – and one that is long overdue if the full service department store format is to undergo any sort of renaissance.
Myer revealed this week that 100 mainly fashion labels will be axed – the vast majority of which will not be replaced by new ones.
Time has run out for department stores to offer the often-cited excuses for lacklustre performance – such as the poor retail environment or online competition. The retail landscape is not fabulous but nor is it depressed.
(Source: The Sydney Morning Herald Online )